Elizabeth Warren: What Apple Teaches Us About Taxes
The European Commission is investigating Luxembourg’s tax arrangements for Amazon and McDonald’s
.. Multinational corporations are especially worried about losing access to Cayman Island-style tax rates in European countries where they can also get rule of law, political stability and an educated professional class of attorneys and consultants.
.. In the 1950s, corporations contributed about $3 out of every $10 in federal revenue. Today they contribute $1 out of every $10
.. The National Science Foundation helped fund some of the initial work of Google’s founders. Apple’s consumer products still rely on technology that originated in federally funded research.
.. Preferential tax treatment, either through special rates or deferred due dates, creates a huge financial incentive for American companies to build businesses and create jobs abroad rather than in the United States.
.. This puts small businesses at a competitive disadvantage as they end up shouldering more of the burden of paying for education, infrastructure, research, the military and everything else our nation relies on to succeed.